XL Fleet Announces Third Quarter 2021 Financial Results
XL Fleet Corp. Class A (XL)
Last xl fleet corp. class a earnings: 7/31 04:30 pm
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US:NYSE Investor Relations:
xlgroup.com/xl-investor-relations
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Source: Business Wire
BOSTON--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions for commercial vehicles in North America, today announced third quarter 2021 financial results.Third Quarter 2021 and Recent HighlightsGenerated revenue for third quarter of 2021 of $3.2 million, compared to $6.3 million in the prior yearRealized gross profit for the third quarter of 2021 of $0.7 million, compared to $0.8 million in the prior yearDelivered gross margins of approximately 22%, compared to gross margins of approximately 12% in the prior yearExited third quarter of 2021 with cash and cash equivalents of approximately $367 millionExpanded platform availability for XL Hybrid system on Ram 2500 & 3500 heavy duty pickup trucks and Isuzu NPR-HDAppointed automotive and mobility sector veteran Eric Tech as new CEO of XL Fleet, effective December 1, 2021Management Commentary & Outlook“Our third quarter results were negatively impacted by ongo
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